The global 3D animation market is expected to reach USD 28.31 billion by 2025, according to a new report by Grand View Research, Inc. Growing applications of animation in the media & entertainment, healthcare & life sciences, manufacturing, and education & academics industries is expected to drive the market significantly.
The creation of dynamic content and high-end visuals has enabled the biotech, medical devices, and pharmaceutical industries to exploit the benefits of 3D animation. Animation is being used for maximizing sales, as it enables providers to emphasize and focus on the benefits of products and services by delivering an engaging, educational, and entertaining experience to the viewers.
The increasing use of 3D animation technologies is expected to influence the end-use industries positively. In case of medical science, 3D animation techniques are one of the most effective ways for communication as they display the human body in a polygonal form, which cannot be replicated using photography, sketch, and two-dimensional illustrations.
Traditionally concentrated in the developed countries, the 3D animation market has paved its way into the emerging countries such as India, China, and the Philippines owing to the increasing trend of outsourcing animation activities to these countries. In 2016, the North American region accounted for the largest revenue share of the 3D animation market. However, the Asia Pacific region is expected to witness robust growth throughout the forecast period.
Further Key Findings From the Report Suggest:
• The 3D modeling segment is expected to account for the largest revenue share by 2025 and register an estimated CAGR of around 10% over the forecast period
• The visual effects segment was valued at around USD 2.1 billion in 2016, primarily attributed to the increased demand from the media & entertainment industry
• By 2025, the media & entertainment end-use segment is projected to account for around 35% of the total revenue share
• In 2016, the North American region accounted for the largest revenue share and is anticipated to retain its dominance throughout the forecast period
• Asia Pacific is projected to emerge as the fastest growing market since there is a growing emphasis on producing local animated content apart from the outsourced assignments performed by regional firms
• The key players in the industry include Autodesk, Inc., Corel Corporation, Zco Corporation, Adobe Systems Incorporated, NVIDIA Corporation, and NewTek, Inc.